Grayscale report in-depth analysis: The crypto bull market is still halfway to go!
I often read research reports from large institutions, and I feel that they are much more reliable than those random KOLs on the Internet. Especially those macro reports, institutions can look at the market from the perspective of the entire industry, and there are professional teams to analyze for us.
I read the "Current State of the Crypto Cycle" report recently released by Grayscale, which talks about where the cryptocurrency cycle is now and predicts how the market will change in the future. I will briefly summarize the three key points in the report for you:
Grayscale has looked at a lot of data and feels that the price of Bitcoin has not yet reached its historical high. Bitcoin and other cryptocurrencies are like online commodities, and their prices may continue to rise. They also used some indicators to see what stage the market is in now, and the result is: the market is like climbing a mountain, and it has not yet reached the top! If the fundamentals of the market, such as the degree of cryptocurrency use and the macroeconomic situation, are still good, then the bull market may continue until 2025, or even longer!
Grayscale said that the cryptocurrency market is not just about Bitcoin, other currencies are also important. Especially about two years after the start of the bull market, Bitcoin's share in the market will reach its highest point, and then begin to decline. At this time, the opportunity for altcoins comes, and their share will begin to rise. Therefore, investors have to keep an eye on the performance of other currencies, so that they can better judge whether the market is about to reach a high point.
Compared with the previous bull market, there are many new changes in this bull market. The most obvious is that the United States has begun to approve Bitcoin and Ethereum trading products, which has attracted $36.7 billion in capital inflows and made more people begin to accept these digital assets. In addition, after the US election, supervision may become more transparent, which is a good thing for the status of crypto assets in the United States. Therefore, Grayscale believes that the valuation of Bitcoin and other crypto assets may no longer rise in a four-year cycle as before.
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